Texas Bank & Trust Co Takes Position in Johnson & Johnson (NYSE:JNJ)

Texas Bank & Trust Co acquired a new stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,776 shares of the company's stock, valued at approximately $3,005,000. Johnson & Johnson accounts for about 1.2% of Texas Bank & Trust Co's investment portfolio, making the stock its 23rd biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JNJ. Vanguard Group Inc. raised its holdings in Johnson & Johnson by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company's stock worth $33,666,460,000 after purchasing an additional 1,772,706 shares in the last quarter. Geode Capital Management LLC boosted its stake in Johnson & Johnson by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company's stock worth $8,321,881,000 after purchasing an additional 1,561,036 shares in the last quarter. Northern Trust Corp lifted its stake in Johnson & Johnson by 12.3% during the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock valued at $4,456,201,000 after acquiring an additional 3,363,235 shares during the period. Norges Bank bought a new position in Johnson & Johnson during the 4th quarter valued at about $4,390,037,000. Finally, Wellington Management Group LLP lifted its stake in Johnson & Johnson by 1.8% during the 4th quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company's stock valued at $3,522,447,000 after acquiring an additional 431,205 shares during the period. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Performance

JNJ stock opened at $151.37 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. The business's fifty day simple moving average is $156.27 and its two-hundred day simple moving average is $153.90. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The firm has a market cap of $364.20 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 2.56 and a beta of 0.42.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.59 by $0.18. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The business had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. Analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be paid a $1.30 dividend. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date is Tuesday, May 27th. This represents a $5.20 dividend on an annualized basis and a yield of 3.44%. Johnson & Johnson's dividend payout ratio (DPR) is presently 57.84%.

Analyst Ratings Changes

Several research firms have recently commented on JNJ. Guggenheim reaffirmed a "neutral" rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Argus raised shares of Johnson & Johnson to a "strong-buy" rating in a research report on Friday, January 24th. Bank of America reduced their target price on shares of Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. The Goldman Sachs Group upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their price target for the stock from $157.00 to $172.00 in a research note on Wednesday, April 9th. Finally, Leerink Partnrs downgraded Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Eleven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $170.88.

Insider Activity

In other Johnson & Johnson news, EVP Timothy Schmid sold 403 shares of Johnson & Johnson stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total value of $62,928.45. Following the transaction, the executive vice president now owns 15,098 shares in the company, valued at $2,357,552.70. The trade was a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total value of $1,160,994.12. Following the completion of the transaction, the vice president now owns 21,001 shares in the company, valued at $3,483,645.88. This trade represents a 25.00% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.16% of the company's stock.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.

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